Facebook set to pay millions more Tax in 2017

For some time companies such as Facebook, Tesco, Starbucks Google and more have suffered heavy criticism for pay next to nothing on tax in the UK, the companies were able to do this by routing their money through other countries.

However the Government is putting changes in place by setting up a new diverted profits tax was also likely to have a punitive effect on the business in Britain.

According to reports by the BBC “Facebook is set to pay millions of pounds more in tax in the UK after a major overhaul of its tax structure.” “On Monday, we will start notifying large UK customers that from the start of April, they will receive invoices from Facebook UK and not Facebook Ireland.” Smaller business sales where advertising is booked online – with little or no Facebook staff intervention – will still be routed through Ireland, which will remain the company’s international headquarters.

in 2014 Facebook paid just £4,327 in Tax despite it’s £1bn profit every three months, these new changes will be put in place in April and Facebook’s first new higher, tax bill, will be due to be paid in 2017.